Labor Day or Capital Day?

Today, millions of Americans from across this great nation are taking a much-needed respite from the cares of the world, gathering with friends and family, and celebrating Labor Day. On this important day, we must remember what we’re celebrating. And what we’re not celebrating, but should be.

Labor day has become such a quintessential American holiday that many of us would be surprised to learn that it was created to celebrate labor unions. As its name suggests, Labor Day honors laborers. It was declared a national holiday under President Grover Cleveland over 100 years ago in order to appease striking labor unions.

And there’s nothing wrong with giving the workers their due. Laborers helped build this country and make it the economic marvel of the modern world. But that’s only half the story (and the lesser half at that). The other half that we really should be celebrating is capital.

We owe our prosperity mainly to the job creators, not the workers themselves. The efforts of the workers would be in vain without the entrepreneur to create jobs for them to work, or without the investor to put up money to build and grow the business.

So remember this day to raise a glass to the workers who power the economy of this great nation. But don’t forget the innovators, the investors, and businesspeople who had to bleed and sacrifice first before the workers could even get to work. They are the true stars of this show.